Pink slime is a slang term, and not a terribly inapt one for what is technically known as lean finely textured beef or boneless lean beef trimmings. Although I used the term pink slime in the title to get your attention, I think that it is a bit pejorative and shall use the term “the product” henceforth.
Since this is a meat product, it is regulated by the United States Department of Agriculture (USDA) and not the Food and Drug Administration (FDA). This seems to me to have a bearing on how it has been approved.
There are a LOT of politics and hype surrounding the product, and I think that it serves my readers to look at the technical issues before we examine the political and PR issues. You might be surprised where I come down on the safety and wholesomeness of the product.